NEW YORK (TheStreet) -- Several small-cap stocks were poised to move on above-average volume during Thursday's session
Quantum Fuel Systems Technologies Worldwide (QTWW) slumped by 6 cents, or 4.6%, to $1.24 after the company disclosed in a regulatory filing that its management and an audit committee determined that financial statements for the fiscal years ended April 2007 and April 2008, quarterly financial statements for the periods ending October 2006 and January 2009 "should no longer be relied upon." Volume topped 2.6 million shares, not far from the stock's 50-day average daily volume of 3.6 million.
RADVision (RVSN) jumped by 29 cents, or 4.8%, to $6.40 following reports that shareholders of Norwegian video-conferencing technology rival Tandberg don't intend on tendering their shares to Cisco's (CSCO) $3 billion bid. RADVision counts Cisco as its largest customer, and shares fell sharply when Cisco announced the tender offer for rival Tandberg earlier this month. Volume topped 239,000 shares, above the stock's 50-day average daily volume of 221,000.
Linktone (LTON) jumped by 92 cents, or 44.4%, to $2.99 after the Chinese wireless company said it has entered into an agreement to make video highlights of Major League Baseball games available to customers with China National Radio Mobile Media. Volume topped 1.2 million shares, well above the stock's 50-day average daily volume of 65,000.Krispy Kreme Doughnuts (KKD) jumped by 64 cents, or 16.1%, to $4.62 in an absence of company-specific news. Some investor posts on Internet message boards speculated that the stock's move higher on a ramp up in volume was due to a favorable article about the stock in the press recently. Others noted that Krispy Kreme, which had suffered in recent years, was close to breakeven and sales were up for the year. Volume topped 1.8 million shares, more than the stock's three-month average daily volume of 322,000. Melco Crown Entertainment (MPEL) sank by 41 cents, or 6.3%, to $6.10 amid speculation that the government would tighten visa restrictions. Currently, residents of the Guangdong province are allowed to visit Macau, the only part of China where gambling is legal, once a month. It is expected that the rule would be revised to only allow Guangdong residents to visit Macau every other month. Volume topped 14 million shares, nearly doubling the stock's 50-day average daily volume of 7.8 million. -- Written by Robert Holmes in New York.
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